American Tower Corporation’s Stock Price Drops to $172.21, a Decline of 3.32% – Is it Time to Buy?

American Tower Corporation (AMT)

172.21 USD -5.91 (-3.32%) Volume: 3.81M

American Tower Corporation’s stock price currently stands at 172.21 USD, experiencing a drop of -3.32% this trading session with a trading volume of 3.81M. The stock has a year-to-date (YTD) percentage change of -20.23%, indicating a significant downtrend in AMT’s market performance.

Latest developments on American Tower Corporation

Today, American Tower (NYSE:AMT) saw significant stock price movements, following a raised price target to $196.00 by Morgan Stanley. Despite losses on the day, the REIT stock outperformed competitors, contributing to its position as one of the top 3 real estate stocks with potential for significant gains this quarter. The company’s stock appeal was further bolstered by Dakota Wealth Management’s acquisition of 4,955 shares, Simplicity Solutions LLC’s increased position, and Cerity Partners LLC’s share acquisition. However, Sumitomo Mitsui Trust Holdings Inc. did trim its position in American Tower Co.

A look at American Tower Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, the long-term outlook for American Tower appears to be moderately positive. The company received average scores for its value, growth, dividend, resilience, and momentum. With a focus on owning, operating, and developing wireless communications and broadcast towers in the United States, American Tower is well-positioned in the industry.

American Tower Corp. is a real estate investment trust that specializes in leasing antennae sites on multi-tenant towers for various wireless communications industries. With average scores across the board, the company may continue to see steady growth and maintain its position as a key player in the industry. Investors looking for a stable investment with potential for growth may find American Tower to be a solid choice.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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